绿色金融如何赋能制造业绿色竞争力提升

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Abstract Green finance is a crucial driving force behind the green and sustainable development of China's industrial sector in the context of dual carbon. Based on the panel data of 30 provinces (municipalities and autonomous regions) in China from 2011 to 2019, this paper empirically discusses the empowering impact of green finance on the green competitiveness of China's manufacturing industry, and draws the following conclusions: (1) Green finance plays a steady role in promoting the green competitiveness of manufacturing industry. (2) The enhancement of green total factor productivity, rationalization of manufacturing structures, and advancement of manufacturing structures are the significant ways via which green finance influences the green competitiveness of manufacturing industries. (3) The influence of green finance on the green competitiveness of manufacturing industry is heterogeneous in structure, location and financing characteristics. In terms of structural heterogeneity, green securities, green credit, and green investment exhibit significant promotion effects on the green competitiveness of the manufacturing industry, while green insurance exhibits an inhibiting effect. Of the four dimensions of the manufacturing industry's green competitiveness, green finance plays the biggest role in promoting green social responsibility, followed by green environmental protection and green technology innovation, and finally green economy support. In terms of locational heterogeneity, green finance significantly enhances the green manufacturing industry's competitiveness only in northern China; The promotion effect of high marketization level area is better than that of low marketization level area. In terms of financing characteristics heterogeneity, the promotion effect of green finance in the group with high financing cost is better than that in the group with low financing cost; The group with relatively active credit shows a promoting effect, while the group with relatively active equity shows an inhibiting effect.

Key words： green finance manufacturing industry green competitiveness transformation and upgrading location conditions financing characteristics

Received: 07 March 2023

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F830.2

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	Articles by authors
	SUN Ying-jie
	LIN Chun

Cite this article:

SUN Ying-jie,LIN Chun. How Green Finance Enables Green Competitiveness of Manufacturing Industry[J]. , 2023, 40(3): 61-71.

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https://xb.szu.edu.cn/EN/ OR https://xb.szu.edu.cn/EN/Y2023/V40/I3/61

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